NGEL/Nayara collaborate on green hydrogen in India
India’s NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of India’s leading integrated power producer NTPC Limited, and Nayara Energy, a new-age international downstream energy company of International scale, have entered into a Memorandum of Understanding (MoU) to explore opportunities in the green hydrogen and green energy space.
The MoU envisages to collaborate and produce green hydrogen for Nayara Energy’s captive usage, accelerate decarbonisation and catalyse reduction in carbon footprint. This collaboration is in line with NTPC’s initiatives to develop hydrogen projects in India and aligns with the vision of a self-reliant India (Atmanirbhar Bharat) as laid out by India’s Prime Minister.
While congratulating the team, Mohit Bhargava, CEO (NGEL) mentioned that “We are happy to join hands with Nayara Energy in our shared commitment to accelerate India’s transition to clean and sustainable energy sources. Green hydrogen would be a crucial element of India’s clean energy future, and with this partnership, we will explore and implement cutting-edge technologies to produce green hydrogen, contributing to a cleaner and more resilient energy landscape. Through NGEL, we are dedicated to expanding our Green Energy portfolio, and this collaboration exemplifies our relentless pursuit of a greener and more sustainable future for the nation.
NTPC is India’s largest power utility having a total installed capacity of 73+ GW. As part of increasing its RE portfolio, a wholly-owned subsidiary NGEL has been formed to take up renewable energy parks and projects including businesses in the area of green hydrogen, energy storage technologies, and round-the-clock RE power.
NTPC Group has a plan of 60 GW of RE capacity by the year 2032 and is currently working on a pipeline of 20+ GW, out of which over 3 GW is operational capacity.
Nayara Energy is an integrated downstream company of international scale with presence across the hydrocarbon value chain from refining to retail. Nayara Energy owns India’s second largest single-site refinery at Vadinar, Gujarat with a capacity of 20 MMTPA.
